From Financialexpress · Suhel Khan · · 2m
Sunil Singhania’s Rs 266 Cr Bet, Madhu Kela’s 20x Order Book Play
Two Indian investors doubled stock prices with high-risk bets on chemical and railway stocks.
In brief
Two Indian investors doubled stock prices with high-risk bets on chemical and railway stocks. Sunil Singhania’s fund and Madhusudan Kela’s family each doubled their investments in stocks that have more than doubled in value. Originally reported by Financialexpress.
Sunil Singhania’s Rs 266 Cr Bet
Sunil Singhania's fund crossed 1% in Aether Industries, a chemical maker supplying Baker Hughes and Saudi Aramco.
Madhusudan Kela’s 4.22% Stake
Madhusudan Kela's family holds 4.22% of MV Electrosystems, a railway equipment maker listed on August 6, 2026.
Aether Industries: 1.15% Stake
Abakkus Flexi Cap Fund holds 1.15% of Aether Industries, worth Rs 266 cr at October 8, 2026 closing.
MV Electrosystems: 4.22% Stake
Madhusudan Kela's family holds 4.22% of MV Electrosystems, a railway equipment maker listed on August 6, 2026.
Aether’s 97x PE Valuation
Aether Industries trades at 97x its earnings, 20 times its book value, and 172% higher than IPO price.
MV Electrosystems: 50x Sales
MV Electrosystems trades at 50 times FY26 sales and 7 times book value, up 117% from IPO.
Aether’s Growth Drivers
Aether Industries makes chemicals for oil and gas, with Baker Hughes and Saudi Aramco as key clients.
MV Electrosystems’ Order Book
MV Electrosystems has an order book of Rs 989.32 cr, 20 times its FY26 sales of Rs 49 cr.
Aether’s Cash Flow Issues
Aether has negative free cash flow for five years, with Rs 481 cr deficit in FY26 alone.
MV Electrosystems’ Losses
MV Electrosystems swung to a net loss of Rs 13 cr in FY26, with sales down 22% to Rs 49 cr.
Aether’s 2026 Performance
Aether’s sales grew 27% year on year to Rs 327 cr, with net profit up 33% to Rs 63 cr.
MV Electrosystems’ Order Book Timeline
MV Electrosystems’ order book will deliver 564 units of 3-phase propulsion equipment by January 2027.
Investor Entry Points
Singhania entered after a big run; Kela bought shares before IPO at a discount.
Next Steps for Both Stocks
Aether must show new lines can scale without draining cash; MV Electrosystems must prove deliveries are on schedule.
What Happens Next
The next two quarters will settle whether both stocks can deliver on their growth potential.
The big picture
Sunil Singhania’s fund and Madhusudan Kela’s family each doubled their investments in stocks that have more than doubled in value.
